PIIF Solander (Pacific) Limited

completed

REVISED Summary Of Project Information (SPI)Project NameFiji-Solander Pacific LimitedRegionAsia - PacificSectorProject No007700Projected Board DateAugust 31, 1996Company NameSolander Pacific Limited,FijiTechnical Partner and/or Major Shareholders Solander Pacific Limited is based in Suva, Fiji. Technical assistance and training will be given to Solander to help prepare a detailed study of the existing tuna long lining operations of the company. Financing wll be provided to help the company expand its operations. Project Cost Including proposed IFC investment Total project cost is estimated at US$750,000, of which US$350,000 equivalent Yen denominated venture loan is being proposed by IFC(through PIIF, the Pacific Isands Investment Facility). Location of project and Description of site The project will based in Suva, Fiji. Description of Company and Purpose of Project The project involves the expansion of Solander’s tuna longline operation in Fiji by the funding and purchase of an additional vessel. A proposed 7 year loan of US$ 350,000 equivalent Yen denominated will be made to Solander Pacific Limited by IFC’s Pacific Islands Investment Facility (PIIF). This would allow Solander to increase its tuna catch, for export to Japan’s sashimi market. Environmental Category and Issues This is a category B project according to IFC’s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized standards, guidelines or design criteria.     The is from the Public Information Center.Date SPI sent to PIC: June 25, 1996Revised: July 11, 1996 For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365